Binance, the world’s largest cryptocurrency exchange, faced regulatory challenges in the UK and Belgium, with allegations of offering unauthorized derivative products in Brazil. However, despite ongoing regulatory issues in the crypto industry, there was a significant increase in institutional adoption of cryptocurrencies during the week as Mastercard and J.P. Morgan expanded their involvement in the field. Other developments in the crypto scene included Fidelity’s rumored plan to enable bitcoin redemption and a move by Walmart to accept cryptocurrencies as payment. Despite regulatory hurdles, leading firms are deepening their reach in the crypto industry.

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